ERODE: The price of the copra was decreased suddenly on Wednesday. “The copra price was decreased by Rs 200 a quintal. Because of such decrease several copra farmers were affected. Copra was sold at Rs 7,400 to Rs 7,800 a quintal two days back and on Tuesday the price was increased to Rs 8,200 a quintal. But today the price was decreased to Rs 8,000 a quintal. Many copra farmers having huge stock of copra with them were affected by this sudden decrease. Some crushers have purchased the copra on Tuesday also affected”, said R.M. Palanisamy an oil trader of Erode.

He said because of the decrease in copra price the coconut oil price also decreased. It was sold at Rs 1,620 to Rs 1,660 for a quantity of fifteen kilogram loose pack, is selling at Rs 1,540 to Rs 1,570 for fifteen kilogram loose pack. But actually no buying of the oil was made and the oil buyers feel that the price of the oil may come down again.

Meanwhile, the copra farmers have procured coconut at Rs 23,000 per tonne from Karnataka and the price of such coconut was higher in Kerala as the Kerala farmers demand more for coconuts. Because of such heavy price the coconut buying also affected. One of the copra farmers said that as on date they are having more than 7,000 tonnes of copra with them. The sudden decrease in copra price has affected them. At the Perundurai Cooperative marketing Society, 165 tonne of copra arrived for sale which fetched low price.

The oil crushers said that the price of coconut oil may come down again. The price of palm kernel also decreased and it was sold at Rs 6,400 a quintal as against Rs 7,000 a quintal last week. The oil crushers demand the Government to reduce the sales tax on coco nut oil and also remove the tax on sale of copra. If it is done the price will be stable round the year and the price of coconut oil also would come down to a reasonable price level.

Published on September 10, 2015